Summer 2023 = Summer 2016 ?

Welcome to The Morning Bro, the newsletter that you can trust from a bro you can trust.

In Today's Morning 6 - 9:

• 2022 Quick Tech Recap

• Travel 2023 and Cultural Catch ups

• Bro-tastic Memes

• Referral Program is now LIVE

2022 Quick Tech Wrapped

2022 was a difficult year for most industries, especially for Big Tech, with the economy slowing, stocks falling, inflation increasing, and resources becoming more limited. The chart below shows how the S&P 500 performed in 2022, by sector from Visual Capitalist.

• In 2022, over 91,000 tech sector workers in the US have been laid off in mass job cuts, according to Crunchbase News. This has affected companies such as Netflix, Robinhood, Glossier, and Better. The layoffs are attributed to the COVID-19 pandemic, overhiring during periods of rapid growth, and market pressures including inflation concerns, rising interest rates, and geopolitical issues.

• Several tech companies, including Google and its parent company Alphabet, have had to cut back on money-losing projects and initiatives due to this economic downturn. Some of these projects were ambitious and aimed to "redefine humanity," while others were less ambitious but still not profitable.

• Facebook, through its division Meta, also faced challenges in 2022, including privacy changes from Apple that cost the company billions and the laying off of over 11,000 employees. Meta has also had to cut hardware products and its experimental product division and shut down its connectivity division.

• Elon Musk has seen over $130 billion disappear from his net worth in 2022 due to the decline in Tesla's stock. Despite this decline, Musk remains the world's second richest person, with a net worth of $139 billion

• AI is a hot topic this year, and it's having a major impact on various industries, including the world of work. As AI systems become more advanced, they are able to perform tasks that were once thought to be uniquely human. This raises concerns about the future of work and the potential for AI to replace human workers.

• According to a report from the McKinsey Global Institute, around 375 million workers, or 14% of the global workforce, may need to switch occupational categories and learn new skills by 2030 due to automation. Some industries, such as manufacturing and retail, may be more vulnerable to automation, while others, such as healthcare and education, maybe less affected

• To prepare for the potential impact of AI on employment, it's important for workers to continue learning and acquiring new skills, and to focus on skills that are difficult for machines to replicate, such as creativity, empathy, and problem-solving. Time to work on those people skills Bros!

Flying all over 2023 & Cultural Catch Ups

2023 Summer = Summer 2016 all over again?

• Tourism and Traveling are set to make a big comeback this year... According to a recent poll, 31% of Americans are more interested in international travel than staying in the U.S. That's a six-point increase from February, and it looks like we're all ready for a change of scenery.

• And it's not just a feeling - the numbers back it up. A report from Hopper found that 62% of flight searches for 2023 are for international destinations.

• Additionally, a survey conducted by Adventure Travel and World Nomads found that 70% of America would like to explore a new destination, 46% want to see wildlife up close, 31% want to immerse themselves in a new culture, and 20% are seeking adventure and outdoor thrill-seeking activities.

Here are the top Trending Global Destinations for 2023 according to Booking.com:

• Budva, Montenegro is a small town on the Adriatic coast with beautiful beaches and lively nightlife.

• São Paulo, Brazil is a city with tall skyscrapers and a variety of cultural attractions.

• Pondicherry, India is a laid-back town on the southeastern coast with a rich French history and independent stores.

• Querétaro, Mexico is located in central Mexico and offers a variety of ecosystems and tours.

• Bolzano, Italy is a medieval city at the foot of the Italian Alps with skiing, history, and nightlife.

• Kalabaka, Greece is a destination with religious history and culture, including monasteries and museums.

• Olomouc, Czech Republic is a city with architecture, quaint streets, and museums.

• Hobart, Australia is a town in Tasmania with outdoor adventures, cultural attractions, and a thriving food and drink scene.

Cultural Happenings:

IRS and $600 Venmo "No Mas," says the Feds - The IRS has delayed a rule requiring e-commerce sites and payment platforms to send out tax paperwork to a wider group of people in 2023, in order to reduce confusion and give taxpayers more time to understand the new reporting requirements. The rule would have required the forms to be sent to individuals who received at least $600 via these types of sites and payment platforms, rather than the current threshold of $20,000 received and 200 transactions.

I miss the Old Kanye - So do Kanye and Adidas - Apparently, Adidas is sitting on a pile of Yeezy sneakers worth over half a billion dollars after they split with Kanye back in October. To try and avoid taking a hit, Adidas is now trying to sell the Yeezys under its own brand name. But get this: Yeezy was responsible for around 7% of Adidas' sales this year, worth a cool $1.8 billion. All around yikes.

The NYC Times published a list of the 50 greatest life hacks several months ago, and Sahil Bloom recently shared it on Twitter. These are the top 5 life hacks that we think are especially useful for people under 35.

• Job interviews are not really about you. They are about the employer's needs and how you can fill them.

• Build identity capital. In your 20s do three fascinating things that job interviewers and dinner companions will want to ask you about for the rest of your life.

• Marriage is a 50-year conversation. Marry someone you want to talk with for the rest of your life.

• If you're giving a speech, be vulnerable. Fall on the audience members and let them catch you. They will.

• Never be furtive. If you're doing something you don't want others to find out about, it's probably wrong.

Southwest Airlines has experienced a "full-blown meltdown" and canceled over 5,400 flights in less than 48 hours due to a winter storm and issues with crew scheduling. The U.S. Department of Transportation has called the cancellations, delays, and customer service response "unacceptable" and will examine whether the cancellations were controllable and if Southwest is complying with its customer service plan.

Tumblr is making a quiet comeback - Tumblr is partnering with The Meet Group's video unit, Livebox, to launch a live-streaming feature on its platform in an effort to increase engagement and advertising success. Livebox allows creators and brands to monetize their work through "tipping" and offers moderation and talent support. Tumblr's relaunch comes as it tries to regain popularity following a decline in users and a series of ownership changes.

Jadakiss launched Kiss Café, a Coffee line that aims to bring three generations together to foster love, tradition, and legacy. The coffee is sourced from South and Central America and is packaged in a sleek matte-black exterior. It is aimed at "everyday coffee lovers" and is priced at $14.99. The company is an extension of all three men's longstanding business ties and a way for Bob to pass on his knowledge and passion for the coffee industry to his offspring, helping them to build generational wealth.

The Phoenix Suns have been sold for a record $4 billion, to MSU's very own, Mat Ishbia, surpassing the previous sales of the Brooklyn Nets in 2019 and the Los Angeles Clippers in 2014, both in large markets. The sale highlights the growth in the value of small market teams, which have traditionally been valued significantly lower than large market teams. The NBA has experienced significant growth in revenues, particularly internationally and through new forms of consumer engagement and monetization. This trend is expected to continue, leading to a decrease in the valuation gap between small and large market teams.

Bro-Tastic Memes

Thank you for reading, but more importantly, thank you for being you. We hope you found this edition informative and enjoyable. Be sure to follow us on social media for even more Culture, Tech, and Business insights and updates @TheMorningBro

Bro-sclaimer: The opinions and info in this newsletter are for informational purposes only and do not constitute endorsement or recommendation of any company or product. As tech-savvy bros, you know the drill: Do your own research before making any investment decisions. Don't be a dummy, Bro.